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Supreme Court’s Judge addressed the 375th Council Meeting of the Institute of Chartered Accountants of India

Friday, May 25, 2018

The 375th meeting of the Central Council of the Institute was addressed by Hon'ble Justice Ms. Indu Malhotra, Judge, Supreme Court of India on May 24, 2018 at ICAI Head office in New Delhi. She served as a Government Nominee in the ICAI Council from February 12, 2016 till February 10, 2017.
Addressing the Council, the Hon’ble Justice remarked that “The profession of Chartered Accountancy has been very closely related to Legal Profession. Lordship stated that many Chartered Accountants are serving as Judges which is a great contribution from CA profession to Judiciary in India.”

Adding further she stated that “Chartered Accountants play a vital role in the financial health of an economy. CAs constitute the first layer of vigil mechanism for corporate, Government Institutions, Banking sector and various other constituents in sustaining financial system so that the financial status of a particular Institution is revealed to the public, investors who invest their hard earn savings.”

She further added “A time has come for other professions to also remain accountable to society at large because the professionals discharge a public duty. It is not only the means of earning livelihood but it is a public duty that the professions discharge & it is extremely important in the present day context.”

During the meeting ICAI Council highlighted the strong role of ICAI in protecting and promoting public interest and how it has been at the forefront on ushering good governance practices. ICAI also highlighted the proactiveness in disposal of Disciplinary cases.

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The Institute of Chartered Accountants of India (ICAI) is a statutory body established by an Act of Parliament, viz. The Chartered Accountants Act, 1949 (Act No.XXXVIII of 1949) for regulating the profession of Chartered Accountancy in the country. The Institute, functions under the administrative control of the Ministry of Corporate Affairs, Government of India. The ICAI is the second largest professional body of Chartered Accountants in the world, with a strong tradition of service to the Indian economy in public interest.